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Does the value of my home affect the commission that I pay?
Does the commission rate that is paid change with the value of the home? Do more expensive homes have a lower or higher commission percentage?
Asked By Mark Johnson | Buffalo, NY | 1954 views | Selling | 2 years ago
Answer(13)
Rick Tortora
REMAX United
Since real estate is local, so are the practices of working with an agent. Here in Raleigh NC the realty commision paid by a seller is a negotiated percentage of the Sfinal ale Price, not the value as you would see published in tax records.
- 2 years ago
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Thomas Ricci
Coldwell Banker Residential Brokerage
Commission rates are negotiable. There are many variations of rate agreements from flat percentage to scale percentage or flat fee or scale fee. Usually the rate agreed upon for services is fixed so the only variation would be if the property sells for less then less commission if higher, then higher dollar commission.
- 2 years ago
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Steven Hunt
Real Broker NY LLC
Commission usually a percentage and the morre the home is the more the commission is. The less the home is the less commission. Commission is typically 6%.
- 2 years ago
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Brian DiMaggio
Atlanta Communities
Not necessarily the value, but the sale price yes.
- 2 years ago
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Michael Hudson
eXp Realty
Depending on what is discussed and agreed upon in a listing agreement. Commission is generally based on a percentage, that is agreed upon between the seller and the listing agent. There is NOT an industry set rate as to what the commission is to be on a contract. To answer your question about more expensive houses, yes, the commission is normally higher.
- 2 years ago
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Suzanne Damon
The Damon Home Team-EXP Real Estate
Fees charged do not depend on the value of the home but rather on the policy of the broker/agent/company that you are working with. With that said, the value of the home does impact fees from the standpoint of most fees are based on a % of the sale price. However, fees do NOT have to be based on a % of the sale price. there are so many variables to consider and some companies allow for flexibility, and others may not. Our code of ethics does not allow us to discuss fees between companies so we have little knowledge of how much other companies charge for services or their structure for such. I am a native of Buffalo and would welcome your contact to discuss further if desired.
- 2 years ago
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Jill Crofcheck
MDC Realty
Commission rates are negotiated. The price of your home does not necessarily affect the commission percentage. In fact, the more assistance an agent needs to provide and higher level of skill your home needs to sell may determine what percentage is negotiated.
- 2 years ago
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Holly Koester
Keller Williams Lonestar DFW
Hi Mark:
Commissions are usually a percentage rate of the sale price of the home and are negotiable. There are even some agents that have a fee schedule based upon the level of service for each rate. Real Estate markets across the country are not all the same. Just as a caution, sometimes cheaper is not always better. Experienced, excellent real estate agents are worth every penny!
Commissions are usually a percentage rate of the sale price of the home and are negotiable. There are even some agents that have a fee schedule based upon the level of service for each rate. Real Estate markets across the country are not all the same. Just as a caution, sometimes cheaper is not always better. Experienced, excellent real estate agents are worth every penny!
- 2 years ago
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Qubie Vazquez
Coldwell Banker Residential
The short answer is no. However, there are a lot of different variables related to underpaying the customary commision that could affect the the highest possible sales price.
- 2 years ago
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Larry McKenna
Signature Premier Properties
Not really - Brokerage fees are negotiable, but the old saying goes, you get what you pay for. It applies here as well
- 2 years ago
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Zack Harrington
WNY Metro Roberts Realty
They are always negotiable but there is no set amount based on the list or sale price.
- 2 years ago
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Michael Fox
Omada Real Estate
In my experience, no. I rarely see certain price points at different commission percentage rates. Luxury homes vs. starter homes for example usually have similar commission rates.
- 2 years ago
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Christian Voigt
HUNT Real Estate ERA
You typically will pay for “professional services” as a percentage of the final sales price. So the total commission you pay is related to the value of the home in a way. However, you will agree to the commission rate when you sign the listing paperwork with your agent.
- 2 years ago
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